Russell Investments Group Ltd. Has $229.77 Million Holdings in Shopify Inc. $SHOP

Russell Investments Group Ltd. decreased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,545,732 shares of the software maker’s stock after selling 30,604 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Shopify worth $229,771,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Heartwood Wealth Advisors LLC purchased a new stake in shares of Shopify in the third quarter worth approximately $27,000. Rothschild Investment LLC boosted its position in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Shopify during the second quarter valued at approximately $27,000. Caitlin John LLC bought a new stake in Shopify during the third quarter worth $36,000. Finally, Estabrook Capital Management bought a new stake in Shopify during the second quarter worth $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the topic of several recent analyst reports. Wells Fargo & Company set a $191.00 price objective on Shopify and gave the company an “overweight” rating in a research note on Thursday, February 12th. Truist Financial set a $150.00 target price on shares of Shopify and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada set a $170.00 target price on shares of Shopify and gave the company an “outperform” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $115.00 price target on shares of Shopify and gave the company a “hold” rating in a research report on Wednesday, February 11th. Finally, Mizuho upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price target on the stock in a report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $162.64.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $130.20 on Monday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The company has a market capitalization of $169.50 billion, a PE ratio of 140.00, a price-to-earnings-growth ratio of 4.67 and a beta of 2.83. The business has a fifty day moving average price of $137.30 and a two-hundred day moving average price of $149.14.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.